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re: Biden warns oil execs not to raise gas prices during storm

Posted on 9/28/22 at 7:59 pm to
Posted by ninthward
Boston, MA
Member since May 2007
20371 posts
Posted on 9/28/22 at 7:59 pm to
This is such bullshite; they know how these prices are set. It just shows how shallow, dishonest, and weak the Biden Administration is. Now they can say: we asked them to lower prices and they won't = boo hoo bad corporate man.

It's the same as the gas tax and blaming republicans. Has one democratic state lowered the state tax yet? That's right, not a one.



Posted by Zahrim
McCamey Texas
Member since Mar 2009
7667 posts
Posted on 9/28/22 at 8:22 pm to
i paid 6.60 today in Commifornia...
Posted by Lutcher Lad
South of the Mason-Dixon Line
Member since Sep 2009
5694 posts
Posted on 9/28/22 at 8:58 pm to
Someone should warn this brain-dead moron not to spend billions of taxpayer money to forgive student loans during a real recession!
Posted by cwill
Member since Jan 2005
54752 posts
Posted on 9/28/22 at 11:27 pm to
quote:

Sorry man. I usually agree with your industry takes, but I fully believe that President Biden is dragging the entire oil & gas industry and their record profits into his “warnings”. If gas stations to raise prices because their supply distribution is restricted by the storm, the mantra from the Democrat Party will be that evil Exxon, Chevron and Shell price-gouged Americans during a hurricane.


Read the article. They always go after the station, who is just dispersing supply through pricing.
Posted by ragincajun03
Member since Nov 2007
21149 posts
Posted on 9/29/22 at 9:13 am to
quote:

Read the article.


I did. And other articles related to make sure I wasn’t missing anything.

I’m just telling you my belief that he’s going to try to pin any price upticks with the storm on the industry as a whole.
Posted by cwill
Member since Jan 2005
54752 posts
Posted on 9/29/22 at 11:52 am to
quote:

I’m just telling you my belief that he’s going to try to pin any price upticks with the storm on the industry as a whole.


I'm not saying its not possible but it would be an extreme stretch. Oil is still down for the quarter and RBOB is down $4. The "gouging" is going to be very localized.

In the past, when a hurricane came through GOM production (LA/TX gulf coast) and production was shut-in and refineries were offline and commodity prices went up nationally, you would see them try to tar the industry for "gouging"...just a different situation, GOM and refineries not hit. It would be a huge stretch with where commodity prices are currently.

We're going to find out, though, so.
This post was edited on 9/29/22 at 11:54 am
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